Apply FHA Loan

Whether you're planing to refinance, buy your first home, lower your monthly payments, buy a second home, consolidate debt or get pre-approved for a mortgage your application will depend
on four factors:

Credit- You must have a minimum credit score of 500 to meet most FHA
guidelines.

Income - Your debt to income ratio should be below 50% and you should have a two year employment history.

Assets - For purchase loans assets must be sourced and verified.

Property - FHA loans are available for 1-to-4 families dwellings.

Items you will need to Purchase a home or Refinance your mortgage:

* One Months Pay Stubs
* W2's for the last Two Years
* Three Months Banks Statements (all pages)
* Copy of Social Security Number
* Copy of Driver's License
* If Purchase Sales Contract
* If Refinance Current Mortgage Statement

FHA Credit Score

Generally, a borrower who has made timely payments for the last 12 months serves as a guide and demonstrates their willingness to repay future credit obligations. New FHA Policy changes require
minimum FICO score to be 580 for or 3.5% down payment or 97.75% loan-to-value rate and term refinance. These FICO requirements went into effect in the spring 2010. However, most individual
lenders will still require credit scores higher than 640.

A perfect credit score is not needed for an FHA loan approval. In fact, even if you have had credit problems, such as a bankruptcy, it's easier for you to qualify for an FHA loan than a for a
conventional loan. Sometimes scores down to 500 are accepted if there are compensating factors that offset the credit risk.

Serving Florida

For more information on buying a home, refinancing or to see if you qualify
for a home loan please give FHA
World a call at (201)
644-0203.

www.MORTGAGE-WORLD.com, LLC is not an agency of the state or federal government and is not affiliated with the Federal Housing Administration.
Nationwide Mortgage Licensing System ID 1630225
All loans arranged with third-party providers.
Licensed in the State of New Jersey
Florida License Number - MBR2317
www.MORTGAGE-WORLD.com, LLC
535 Bergen Blvd. Suite 2
Ridgefield NJ 07657
Call 888.958.5382